Bitcoin shows a sharp drop due to the publication of US government data

The price of bitcoin plummeted after the Federal Reserve announced a 75 basis point increase in interest rates to combat soaring inflation. The regulator noted that inflation will continue to rise in the future.

«Russia's war against Ukraine is causing enormous social and economic hardship. Thewar and related events are causing additional upward pressure on inflation and negatively affecting global economic activity,» the Fed said. At the time of the statement, the price of bitcoin fell below $ 18,500.

Most of the cryptocurrencies in the top ten most profitable assets also ended up in the red zone. According to CoinGecko analysts, the market capitalization of digital currencies is now around $ 950 billion.

Just a few days ago, cryptocurrency analyst Rekt Capital predicted that bitcoin would update its historical low. According to the expert, BTC has every chance of falling below $ 15,000, which will significantly affect the state of the entire cryptocurrency market. Like most cryptocurrency analysts, Rekt Capital attributed the drop in bitcoin value to the notorious Federal Reserve meeting.